TSMC , the world's largest contract chipmaker, posted a 60.7% jump in second-quarter net profit on Thursday, beating market forecasts and hitting a historic high as it benefited from surging demand for semiconductors used in artificial intelligence applications.

Taiwan Semiconductor Manufacturing Company Limited TSM, or TSMC, recently reported a record surge in second-quarter profit as it continues to benefit from the artificial intelligence (AI) megatrend. TSMC is also expected to grow further for three main reasons.

TSM posted net profit of NT$398.27 billion or $2.47 per ADR, up 61% from $1.48 a year earlier, while revenue rose 38.6% to $31.7 billion, topping its own guidance of $29.2 billion. The foundry credited robust demand for artificial intelligence and high?